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Opinion: Bitcoin Sell-off Driven by Short-term Holders, Over 85% of On-chain Spending from New Buyers
Summary: According to Glassnode, in the past 24 hours, the majority of Bitcoin (BTC) on-chain spending came from short-term holders (STH). Short-term holders spent $18.24 billion (85.5%); long-term holders (LTH) spent $3.1 billion (14.5%); total spending amounted to $21.34 billion. This indicates that the current sell-off is mainly driven by recent buyers, rather than long-term investors. ...
According to Glassnode, in the past 24 hours, the majority of Bitcoin (BTC) on-chain spending came from short-term holders (STH). Short-term holders spent $18.24 billion (85.5%); long-term holders (LTH) spent $3.1 billion (14.5%); total spending amounted to $21.34 billion.
This indicates that the current sell-off is mainly driven by recent buyers, rather than long-term investors.
Note: Spending refers to the total amount of Bitcoin moved or used on the blockchain within a certain period, not just simple sales or trading volume.
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Link: Opinion: Bitcoin Sell-off Driven by Short-term Holders, Over 85% of On-chain Spending from New Buyers [Copy]
